Nevada § 164.855 - Allocation of proceeds of life insurance policy and certain contracts to principal; allocation of dividends on insurance policy to income or principal
Full text of Nevada Nevada Revised Statutes § 164.855 — Allocation of proceeds of life insurance policy and certain contracts to principal; allocation of dividends on insurance policy to income or principal, with citation guidance and answers to common questions.
§ 164.855. Allocation of proceeds of life insurance policy and certain contracts to principal; allocation of dividends on insurance policy to income or principal
1. Except as otherwise provided in this section, a trustee shall allocate to principal
the proceeds of a life insurance policy or other contract in which the trust or its
trustee is named as beneficiary, including a contract that insures the trust or its
trustee against loss for damage to, destruction of, or loss of title to a trust asset. The trustee shall allocate dividends on an insurance policy to income if the premiums
on the policy are paid from income, and to principal if the premiums are paid from
principal. 2. A trustee shall allocate to income proceeds of a contract that insures the trustee
against loss of occupancy or other use by an income beneficiary, loss of income, or,
subject to NRS 164.835 , loss of profits from a business. 3. This section does not apply to a contract to which NRS 164.865 applies.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 164.855
What does Nevada Revised Statutes § 164.855 cover?
Section 164.855 ("Allocation of proceeds of life insurance policy and certain contracts to principal; allocation of dividends on insurance policy to income or principal") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 164.855?
A common citation format is "Nevada Revised Statutes § 164.855" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 164.855 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.